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Saturday, June 30, 2012

$SPY: Daily and hourly charts, EW count and forecast.

Bullish sentiment on SPY, up to the 139/140 area as a minor wave 2, where the orange HS neckline will be a big resistance for a pullback. We have some resistance at the EOD area, so, maybe a retrace on monday, as a minuette wave 4 that can´t surpass the minuette wave 1 territory to respect the third EW rule.
We will enjoy our visit to the beautiful Philadelphia.

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